M&A · Financials · Real Estate Agents & Managers (For Others)
Compass, Inc. to acquire Anywhere Real Estate Inc.
Announced Sep 22, 2025 · Closed Jan 9, 2026
Deal value$1.51BEV $4.04B
Premium91.0%To unaffected price
EV / Adj. EBITDA13.7x0.7x EV / Revenue
ConsiderationAll stock$13.50 per share
Transaction
- Acquirer
- Compass, Inc. (COMP)
- Target
- Anywhere Real Estate Inc. (HOUS)
- Buyer type
- Strategic
- Offer price per share
- $13.50
- Enterprise value
- $4.04B
- Status
- Closed Jan 9, 2026
Deal protections
- Break fee (target pays)
- —
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- Committed · Morgan Stanley
Advisors
- To the acquirer
- Morgan Stanley
- To the target
- Goldman Sachs
- Morgan Stanley fee
- $24.0M
Sector context · Financials
- Comparable deals
- 56 in the prior 24 months
- Premium
- 91.0% vs. 34.0% sector median
- EV / Adj. EBITDA
- 13.7x vs. 10.0x sector median
- Break fee
- Sector median 3.7%
Timeline
- AnnouncedSep 22, 2025
- Proxy filedDec 2, 2025
- Definitive proxyDec 2, 2025
- Shareholder voteJan 7, 2026
- ClosedJan 9, 2026
Valuation · fairness opinions
Discounted cash flowMorgan Stanley$19.27$31.23
Discounted cash flowMorgan Stanley$32.09$48.49
Discounted cash flowMorgan Stanley$8.97$12.89
Premiums paidMorgan Stanley$12.38$14.74
Discounted cash flowGoldman Sachs$11.31$17.55
Discounted cash flowGoldman Sachs$16.96$21.77
Future share priceGoldman Sachs$5.23$18.18
Premiums paidGoldman Sachs$7.92$8.75
Premiums paidGoldman Sachs$8.12$10.75
Offer $13.50
Implied value per Anywhere Real Estate Inc. share by analysis, from Morgan Stanley and Goldman Sachs · DCF discount rate 6.9%–7.3%.